HAFN vs. BOAT

Last updated Apr 1, 2026

Compare and contrast key facts about Hafnia Limited (HAFN) and SonicShares Global Shipping ETF (BOAT).

BOAT is a passively managed fund by Toroso Investments that tracks the performance of the Solactive Global Shipping Index - Benchmark TR Net. It was launched on Aug 3, 2021.

Performance

HAFN vs. BOAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hafnia Limited (HAFN) and SonicShares Global Shipping ETF (BOAT). The values are adjusted to include any dividend payments, if applicable.

HAFN vs. BOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HAFN Hafnia Limited	46.02%	2.71%	-12.52%
BOAT SonicShares Global Shipping ETF	29.88%	22.77%	4.17%

Returns By Period

In the year-to-date period, HAFN achieves a 46.02% return, which is significantly higher than BOAT's 29.88% return.

HAFN

• 1D: 1.74%
• 1M: 1.21%
• YTD: 46.02%
• 6M: 33.25%
• 1Y: 99.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOAT

• 1D: 2.65%
• 1M: -2.18%
• YTD: 29.88%
• 6M: 35.58%
• 1Y: 66.85%
• 3Y*: 23.86%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

HAFN vs. BOAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HAFN

HAFN Risk / Return Rank: 93
HAFN Sharpe Ratio Rank: 95
HAFN Sortino Ratio Rank: 93
HAFN Omega Ratio Rank: 92
HAFN Calmar Ratio Rank: 94
HAFN Martin Ratio Rank: 93

BOAT

BOAT Risk / Return Rank: 96
BOAT Sharpe Ratio Rank: 97
BOAT Sortino Ratio Rank: 97
BOAT Omega Ratio Rank: 96
BOAT Calmar Ratio Rank: 96
BOAT Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HAFN vs. BOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hafnia Limited (HAFN) and SonicShares Global Shipping ETF (BOAT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HAFN	BOAT	Difference
Sharpe ratio Return per unit of total volatility	2.68	2.73	-0.05
Sortino ratio Return per unit of downside risk	3.24	3.40	-0.15
Omega ratio Gain probability vs. loss probability	1.42	1.49	-0.07
Calmar ratio Return relative to maximum drawdown	5.05	4.17	+0.89
Martin ratio Return relative to average drawdown	13.76	16.10	-2.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAFN vs. BOAT - Sharpe Ratio Comparison

The current HAFN Sharpe Ratio is 2.68, which is comparable to the BOAT Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of HAFN and BOAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HAFN	BOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.68	2.73	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.97	-0.58

Correlation

The correlation between HAFN and BOAT is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HAFN vs. BOAT - Dividend Comparison

HAFN's dividend yield for the trailing twelve months is around 7.18%, more than BOAT's 6.31% yield.

	TTM	2025	2024	2023	2022	2021
HAFN Hafnia Limited	7.18%	7.48%	20.25%	0.00%	0.00%	0.00%
BOAT SonicShares Global Shipping ETF	6.31%	8.08%	13.89%	13.65%	13.57%	1.36%

Drawdowns

HAFN vs. BOAT - Drawdown Comparison

The maximum HAFN drawdown since its inception was -53.75%, which is greater than BOAT's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for HAFN and BOAT.

Drawdown Indicators

	HAFN	BOAT	Difference
Max Drawdown Largest peak-to-trough decline	-53.75%	-33.94%	-19.81%
Max Drawdown (1Y) Largest decline over 1 year	-19.04%	-15.62%	-3.42%
Current Drawdown Current decline from peak	-0.98%	-4.37%	+3.39%
Average Drawdown Average peak-to-trough decline	-22.64%	-9.94%	-12.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.99%	4.04%	+2.95%

Volatility

HAFN vs. BOAT - Volatility Comparison

Hafnia Limited (HAFN) has a higher volatility of 13.80% compared to SonicShares Global Shipping ETF (BOAT) at 8.91%. This indicates that HAFN's price experiences larger fluctuations and is considered to be riskier than BOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAFN	BOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.80%	8.91%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	24.98%	14.42%	+10.56%
Volatility (1Y) Calculated over the trailing 1-year period	37.36%	24.61%	+12.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.53%	25.25%	+13.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.53%	25.25%	+13.28%